TrustedCars Flex

Verified ICO

Changing Car Ownership Forever

About TrustedCars Flex

Description: Changing Car Ownership forever by turning dealerships into innovative mobility providers while offering customers a commitment-free, all-inclusive and affordable solution. With our unique combination of technology expertise and deep industry relationships we have designed a solution that offers consumers a convenient way to own a vehicle without ownership responsibilities. In parallel we offer dealerships an additional source of income and access to a new generation of consumers.

TrustedCars Flex as a high-tech company helps dealerships move up the technology change curve, with an easy accessible all-in-one solution turning dealerships into mobility providers without any upfront investments.Payment in this industry is presently not secure and one of the parties always has to make payment or settlement in advance and take some risk. Furthermore there is no real incentive to bring the car back in a good condition.

The TrustedCars Flex payment system uses decentralized blockchain technology with smart contracts to process payments, which guarantees safe transfer of funds and removes the need to trust a single party with the funds. The decentralized payment system combined with our tokenized reward system will let everyone involved in the TrustedCars Flex ecosystem earn and spend TrustedCars Flex Tokens (FLEX) whithout the need for an unreliable single intermediary or the effort and costs of wiring small amounts in different currencies across the world.TrustedCars already has an established business and a functioning platform which goes beyond a vision and a roadmap. TrustedCars launched two years ago and has an operating business with a successful product.

We are a Germany based company which has won several awards and was classified as an innovative company by the German Federal Office of Economics and Export Control.

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Expert Review

TrustedCars Using Cryptocurrency to Modernize Car Ownership

TrustedCars (FLEX) ICO–”Changing Car Ownership Forever” is the tagline that accompanies the website for TrustedCars new ICO, a cryptocurrency looking to merge blockchain and decentralization to bring car ownership into the digital age. The premise is simple but revolutionary: customers pay as they go, renting cars for as long or little as needed, all through the ease of a digital application. The pool of potential rides is pulled from a collection of participating dealers, meaning as the currency grows and adoption expands, the benefits of using the service in addition to the options available also increase:

“With our paperless end-to-end solution you can choose any car you want from the available inventory of participating car dealers, sign for it in the app and you are ready to go. Drive the car as long as you want and return it or swap for another car anytime. With no fixed costs or long-term contracts but for a low weekly payment including all expenses.”Similar to Uber and other ride sharing services, TrustedCars has placed an emphasis on streamlining the rental process through smart phone applications, allowing all transactions, legal requisites and information sharing to occur through an easy-to-use app. Customers will have the ability to exchange their ride for other vehicles, giving a person the option of experiencing a variety of different cars for the cost and convenience of a single rental service.

As we move into an expected age of ridesharing, already propagated through services like Uber and Lyft, the premium placed upon owning a vehicle decreases. Instead, more customers are looking at alternatives to long-term ownership, which comes with the additional burden of insurance premiums and regular, costly maintenance. Widespread renting and vehicle “sharing” has been a proposed solution to the immense waste created through the auto-industry, and serves as a means of improved efficiency for the everyday driver. According to Fortune, American cars spend 95% of their lifetime in park, creating thousands of days of wasted utility, in addition to the massive overspending most customers make on a tool they use only 5% of the time. Parked cars are associated with increased mechanical problems, further contributing to lifetime costs and creating a wider gap in the cost-efficiency measure of car ownership.

TrustedCars Revolutionizing Car Ownership

TrustedCars is implementing a simple, step-by-step process for ride rentals that does not hinge upon a long-term contract. A customer first signs up through the application, committing to a weekly payment model that varies in cost depending upon the type of vehicle selected. Customers are then able to rent the vehicle for as long as they wish, paying only the agreed upon weekly fee, with the option to switch vehicles at any time. TrustedCars is prioritizing simplicity and ease of access in creating their service. Rental companies or car dealerships supply the vehicles, making TrustedCars the intermediary between customer and service (much like Uber) that can all be accomplished through the application as opposed to dealing with the hassle of in-person rental registration.

The potential market share or TrustedCars, based out of Germany, goes beyond the typical headache inducing experience of renting a car while travelling abroad. While potential vacationers and corporate jet-setters will benefit heavily from the easy to use, reduced cost rental service TrustedCars is providing, the company’s target user base is the average person, particularly those living in metropolitan areas where car ownership is already on the decline. Renting a car as opposed to outright purchasing allows consumers to allocate their resources more efficiently, in addition to providing greater variety through the vehicle swapping feature.

TrustedCars has outlined four primary solutions they are offering to improve the experience of modern car driving:

Commitment free. Drivers are held to weekly payments so long as they wish to drive the car. They also have the option of switching to another vehicle to better suit their needs and tastes.

Paperless. Mobile function is going to be a key feature for TrustedCar, similar to the way Uber used their smartphone app to disrupt the ridesharing industry in less than a decade. TrustedCars is building upon the familiar feature of vehicle operation through phones, bringing car rentals into the digital age.

Affordable. TrustedCars is an all-inclusive service, with insurance and other fees being wrapped into the weekly fee. The company is aiming to make the service affordable, thereby increasing the appeal over traditional rental agencies. Through the efficiency of cryptocurrency, TrustedCars is hoping to compete with the major players in the industry, relying upon existing agencies and possibly dealerships to recruit vehicles for the rental pool.

Peace of mind. Although understated, a massive benefit to the TrustedCars user is the ability to have access to a vehicle on demand. Need to make an unexpected visit to a relative three states over? TrustedCars has a vehicle just a signature away. The modern age, driven by the innovation of cryptocurrency, is giving individuals access to resources when they need them, as opposed to contributing to monetary and material waste for unused vehicles.

The Role of FLEX

FLEX is the token name for the cryptocurrency TrustedCars will be using on their platform as a means of exchange. Similar to how TRX is the currency to operate on TRON’s platform, FLEX will be the medium of exchange for dealers and customers on TrustedCars. While vehicle rentals will undergo their own independent valuation, presumably all transactions will be made using FLEX, thereby giving TrustedCars the benefits of cryptocurrency, including cheap and fast transactions, increased security, and a ledger of payments encoded on the blockchain.

While it’s unclear the sort of features that FLEX will offer by way of a standalone currency, the coin is likely to be used as an improvement over traditional credit/ACH payments. Traditional banks and card companies impose a fee upon merchants, in addition to having less than stellar security features. Given that TrustedCars is relying upon fast, user-initiated transactions for painless car rentals, it would make sense that the company is pursuing a cryptocurrency that offers similar features. While other cryptocurrencies have focused on the utility of the coin in question to entice investors to buy into the hype of future adoption, TrustedCars has established a product to fill a real world need, and then developed their currency to improve upon the business model. This gives an immediate legitimacy to the currency, assuming that the mobile application is able to launch and gain traction, while also providing incentive for users to buy and sell the currency.

This website is for information and illustrative purposes only. It is not, and should not be regarded as "investment advice" or as a "recommendation" regarding a course of action, including without limitation as those terms are used in any applicable law or regulation.
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